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Updated about 2 years ago on . Most recent reply
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First Time Landlord - Book keeping/Organization
I have a client who is just starting out investing in rental properties. He’s super old school and likes to book keep everything- any suggestions on landlord/property book keeping books for investment properties?
What’s a way you organize and keep track of your properties?
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It depends on what you're aiming for. QuickBooks is highly customizable and if done right your P&L can be a built-in Rent Roll.
For the clients I work with, I recommend QuickBooks until they outgrow it. That also means each property has its own QB account. When I say property I'm referring to apartments and commercial space.
There's not much out there for accounting books specific to this, but there are a few videos that could help get him started. Otherwise, I've setup files for others and they're comfortable enough to do their own bookkeeping.